2024-06-21 06:03:03
Morning Alert..
*India sees 43% decline in FDI inflows in 2023, drops to 15th spot*
Foreign Direct Investment (FDI) flows to India plummeted by 43 per cent in 2023 to $28 billion amid a global decline of 2 per cent, a report by the United Nations Conference on Trade and Development (UNCTAD) said on Thursday. While India dropped to 15th spot in 2023 from 8th position in 2022 in terms of FDI inflows, it remained in the Top-5 for both kinds of FDI — greenfield projects and international project finance deals. In 2022, India’s FDI inflows had risen by 10 per cent to $49 billion. “While the prospects for FDI remain challenging in 2024, modest growth for the full year appears possible,” the report said, citing the easing of financial conditions and concerted efforts towards investment facilitation – a prominent feature of national policies and international agreements. Compared to the previous year, India slipped one spot to become the fourth-largest host country for greenfield project announcements in 2023. It continued to be second in international project deals. In terms of FDI outflows, India’s rank grew from 23rd in 2022 to 20th in 2023. The UNCTAD report said that among the Top-20 host economies, the largest absolute drops in FDI inflows were registered in France, Australia, China, the US and India. A press statement by UNCTAD said developed countries were strongly affected by financial transactions of multinational enterprises, partly due to efforts to implement a global minimum tax rate on the profits of these corporations.
* Global market action*
Dow Jones – Up by 1.17% or 467.40 points
FTSE – Up by 0.82% or 67.35 points
CAC – Up by 1.34% or 101.14 points
DAX – Up by 1.03% or 186.27 points
Gift Nifty – Down by 0.01% or 3.00 points
*FII/DII activities*
FII – Bought 415.30 Cr worth of shares
DII – Sold 325.81 Cr worth of shares.
*Stocks with high delivery Percentage*
Saregama India Ltd – 88.1%
Gland Pharma Ltd – 87.1%
VIP Industries Ltd – 84.2%
Westlife Foodworld Ltd – 79.1%
Vijaya Diagnostic Centre Ltd – 78.4%
*Primary market activities*
IPO opening today
Stanley Lifestyles Ltd (Main board) – Issue size 537.02Cr
Medicamen Organics Ltd (NSE SME) – Issue size 10.54Cr
*Commodities updates*
Gold – Rs 74350/10gm, Silver – Rs 91647/kg, Brcrude – Rs 6796/barrel, Copper – Rs 861.9/kg.
*Corporate News*
Tata Communications raises $250 million sustainability-linked loans.
Triveni Eng & Industries Ltd acquire additional 36.34% stake in Sir Shadi lal enterprises Ltd for Rs. 44.83Cr.
18.1K views03:03
E
